New Delhi, Apr 18 (PTI) Fantasy sports' revenue is likely to grow over three-fold to Rs 25,240 crore by FY2027, a joint report by the Federation of Indian Fantasy Sports and Deloitte India said on Tuesday.

The report claimed that India is the fastest-growing FS (fantasy sports) market in the world with over 300 fantasy sports platforms (FSPs) and 18 crore users.

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"The industry grew by 31 per cent to Rs 6,800 crore in FY22. It is expected to touch Rs 25,240 crore by FY27," the report said.

According to the report, the FS industry attracted Rs 15,000 crore in FDI till FY22, which is likely to touch Rs 25,000 crore by FY27.

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The report claimed that the FS industry contributed Rs 4,500 crore by the way of taxes and is expected to reach Rs 26,000 crore in the next 5 years.

"GST contributions from the fantasy sports industry are expected to increase by 5 times in the next 5 years, from Rs 2,800 crore in FY18-FY22 to Rs 14,700 crore between FY23 and FY27," the report said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)